IEA Speeds Up Release of Oil Reserves

IEA Speeds Up Release of Oil Reserves. The International Energy Agency (IEA) warns that global oil markets, especially diesel, remain supply-constrained following the Strait of Hormuz crisis. So far 330 million barrels of emergency oil reserves have been released, with about 100 million barrels still remaining. The agency plans to accelerate the release of reserves and, in the same […]

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The International Energy Agency (IEA) warns that the global oil markets, especially the diesel market, continue to face supply constraints following the Strait of Hormuz crisis.

So far, 330 million barrels of emergency oil reserves have been released and about 100 million barrels remain.

This agency plans to speed up the process of releasing reserves and, in this regard, send more than 20 million barrels of diesel to the market as soon as possible.

The total volume of oil released is now expected to exceed the initial commitment of 400 million barrels; An action that the member states follow with the aim of helping to stabilize the energy markets.